Illinois Municipal Retirement Fund Increases Stake in Genuine Parts (NYSE:GPC)
Illinois Municipal Retirement Fund increased its holdings in Genuine Parts (NYSE:GPC) by 253.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,772 shares of the specialty retailer’s stock after purchasing an additional 18,488 shares during the period. Illinois Municipal Retirement Fund’s holdings in Genuine Parts were worth $2,979,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of Genuine Parts by 13.5% in the 4th quarter. Russell Investments Group Ltd. now owns 105,330 shares of the specialty retailer’s stock valued at $10,547,000 after purchasing an additional 12,517 shares in the last quarter. Country Club Trust Company n.a. boosted its position in Genuine Parts by 23.8% during the 4th quarter. Country Club Trust Company n.a. now owns 47,936 shares of the specialty retailer’s stock valued at $4,775,000 after buying an additional 9,222 shares during the period. Knowledge Leaders Capital LLC purchased a new stake in Genuine Parts during the 4th quarter valued at $824,000. Viking Fund Management LLC boosted its position in Genuine Parts by 16.7% during the 4th quarter. Viking Fund Management LLC now owns 17,500 shares of the specialty retailer’s stock valued at $1,758,000 after buying an additional 2,500 shares during the period. Finally, CBOE Vest Financial LLC purchased a new stake in Genuine Parts during the 4th quarter valued at $2,199,000. 76.87% of the stock is owned by institutional investors.
GPC has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $115.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada increased their price target on shares of Genuine Parts from $115.00 to $129.00 and gave the company a “sector perform” rating in a research report on Thursday, April 29th. Evercore ISI reaffirmed a “hold” rating on shares of Genuine Parts in a research report on Sunday, April 25th. Zacks Investment Research raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Tuesday, April 20th. Finally, Argus raised their target price on shares of Genuine Parts from $109.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Genuine Parts presently has a consensus rating of “Hold” and an average target price of $121.67.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Wednesday, April 21st. The specialty retailer reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.36. The company had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.30 billion. Genuine Parts had a negative net margin of 1.10% and a positive return on equity of 23.26%. Genuine Parts’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. On average, equities analysts anticipate that Genuine Parts will post 5.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be paid a dividend of $0.815 per share. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $3.26 dividend on an annualized basis and a yield of 2.56%. Genuine Parts’s dividend payout ratio is currently 57.29%.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. The company distributes automotive replacement parts for imported vehicles, hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
Recommended Story: What is a resistance level?
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.